Christian Clausen, Group CEO of Nordea, has been re-elected President of the European Banking Federation for a second term.

His new term in office will officially commence on 1 January 2013 and will last for two years. His election by EBF Board members, meeting in Brussels today (26 October), was unanimous.

“I am honoured by the trust which my peers have placed both in me and in Nordea by electing me for a second term. I have thoroughly enjoyed the first two years and hope that I have been effective in this very troubled period the financial sector is enduring”, declared Clausen.

“We still need to be focused on finding the right solutions for the European financial sector” he added. ‘I look forward to continue working with my fellow colleagues in the EBF towards creating the right conditions for a stable and sustainable banking sector in Europe.”

Christian Clausen has been President and Group CEO of Nordea since 2007 and a member of the Group Executive Management since 2001. He is also Chairman of the Swedish Bankers’ Association.